05 August 2020 03:29 PM

Economic Relations

Thursday، 26 November 2015 12:00 AM

The Egyptian corporation “Orascom Telecom Holding” along with Korea Post & Telecommunications Corporation inaugurated the first mobile-phone services in the DPRK using (3G) technology starting from 2008, and intending to invest up to 400 million dollars in the network infrastructure over the first three years in order to rapidly deploy a high quality network and offer voice, data and value-added services at accessible prices to all Korean citizens.

These new Egyptian investments add to other previous Orascom Group Joint-Ventures in DPRK such as “Ryugyong Tower” which is considered as a “Landmark Project” in the heart of Pyongyang, as well as Sangwon Cement Factory and Orabank, which puts the Egyptian investments on the top of the list of foreign investment in the DPRK.

Joint Economic Committee

Economic, Scientific, Cultural Cooperation Agreement signed by former president Mubarak and late President Kim Il Sung during his first visit to Pyongyang in April 1983, establishing “the Egyptian-Korean Joint Economic Committee” in 1984.

Contractual Framework

  • Trade Agreement dated 10/12/1957
  • Cultural Agreement dated 31/12/1958.
  • Post Agreement dated 21/8/1966.
  • Scientific and Technological Agreement dated 30/10/1969.
  • Air Transportation Agreement dated 3/4/1977.
  • Broadcasting and Journalism Agreements signed in 1986.
  • Internal Security Cooperation Agreement dated 29/10/1993.
  • Maritime (Sea) Transportation Agreement dated 18/5/1997.
  • Mutual Investments Encouragement and Protection Agreement signed on 19/8/1997 and entered into force on 20/12/1999.
  • Media Cooperation Agreement dated 11/9/1999.

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